'No change': People queue up at petrol pumps to exchange ₹2000 notes in Mumbai, Kolkata, and other cities of India

'No change': People queue up at petrol pumps to exchange ₹2000 notes in Mumbai, Kolkata, and other cities of India

Some petrol pumps in the city like the one at Jodhpur Park in south Kolkata are ready to accept Rs 2,000 denomination note provided the price of the fuel purchased is at least 40 per cent of the cash paid in pink notes, IANS reported.

FPJ Web DeskUpdated: Monday, May 22, 2023, 07:14 PM IST

The Reserve Bank of India on Friday announced of withdrawing Rs 2000 currency notes. Following the update, people rushed into spend or exchange their notes with the stated denominations. It was noted that many lined up at petrol pumps to fill fuel and use their Rs 2000 notes there.

As cities saw an increase in customers paying the bill in Rs 2000 notes, the staff found it difficult to cope up with cash and provide change. Reportedly, many gas filling stations pointed out of having no change to pack back in exchange of the major denomination currency. Some petrol pumps also stopped accepting the note to avoid chaos.

People took to social media to alert authorities about staffs refusing to accept Rs 2000 notes. Check tweets:

Petrol pumps ready to accept Rs 2,000 notes only for minimum purchase of Rs 1,000 or more.

Some petrol pumps in the city like the one at Jodhpur Park in south Kolkata are ready to accept Rs 2,000 denomination note provided the price of the fuel purchased is at least 40 per cent of the cash paid in pink notes, IANS reported.

News reports noted that there has been a sudden spike in cash transactions across the country, at least six dealers in Delhi, Uttar Pradesh, Haryana, Jharkhand and Maharashtra, since the withdrawal was announced.

Demonetization

The Reserve Bank of India on Friday announced of withdrawing Rs 2000 currency notes, however one can deposit them in banks until September 30.

The 2,000-denomination banknote was introduced in November 2016 after the Modi government had announced the demonetization of Rs 500 and Rs 1,000 notes.

The RBI has also advised banks to stop issuing Rs 2,000 denomination banknotes with immediate effect. This change has been brought about in pursuance with RBI's “Clean Note Policy”, the RBI said in its notice earlier.

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